Bureau of Meteorology forecaster Pradeep Sing said Cyclone Ita was slowing and now travelling south west at about 12 kilometres an hour towards Cooktown.

On Thursday afternoon, it was travelling around 16 kilometres an hour towards far north Queensland.

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The slowing of the cyclone has pushed the landfall back by an hour.

"Maybe between 11pm and midnight it will cross the coast,’’ Mr Singh said.

Cyclone Ita was expected to head south after crossing the coast.

At this stage, it would leave the North Queensland coast between Cardwell and Townsville in two days, he said.

Cyclone Ita sits menacingly over north Queensland.

Photo: NOAA/Twitter

"It will track to the south and weaken to a category 3 or 2 and leave between Cardwell and Townsville on Monday, possibly Monday afternoon," he said.

The Cairns Disaster Coordination Centre announced on Twitter a red alert had been declared for the port and it has been closed.

Cyclone Ita's projected path.

Photo: Dionne Gain

Cairns Airport has announced no scheduled flights will continue after midnight.

"Operations will continue as normal until the last scheduled passenger flight has departed tonight (VA792 to Brisbane at 2110 and JQ951 to Melbourne at 2005)," the airport announced on its Facebook page.

"From 2400 tonight Cairns Airport will have no scheduled services operating, essential staff will remain onsite overnight and emergency flights will be facilitated as required."

Earlier, the ABC reported that Cooktown had already lost power.

Cyclone Ita strengthened to become a category 5 storm on Thursday night.

Photo: Higgins Storm Chasing

Hope Vale Mayor Greg McLean says residents are well prepared and in good spirits.

‘‘Now we just have to sit tight - there’s nothing more we can do,’’ he said on Friday night.

Emergency services in Cooktown brace for Ita.

Photo: Ten News

Mr McLean, who himself has sought refuge at a friend’s house, says gusts up to 85km/h can be felt in the town as well as heavy rain.

‘‘We’ll hope for the best and tomorrow we go into recovery mode,’’ he said.

The Queensland Fire and Emergency Service has issued the following advice to residents in the warning zone:

- For Cooktown and local environs if your home was built before 1985 there is a high risk that it may not withstand Category 5 Tropical Cyclone Ita.

- You should think seriously about relocating to another location. Seek shelter with family or friends and if you can’t do that, go to your local cyclone shelter.

- If your home was built after 1985 it should be able to withstand the cyclone and you should be able to take shelter there.

- If you intend to shelter in your house choose the location likely to be the most cyclone resistant, e.g. the bathroom.

- Take the opportunity now to charge mobile phones and close off any apps or smartphones that you don’t need as they take up battery power.

- Include batteries amongst the essential items in your emergency kit as well as sufficient drinking water and non-perishable food, medical supplies or medicines to cover for up to a week after the storm.

QFES northern regional director Wayne Coutts said residents had a limited timeframe to ensure their homes and families were ready.

"Prepare your family by ensuring your emergency kit is well stocked with essential supplies including food, water, warm clothes, medications, first aid supplies, important documents, valuables and sleeping gear," he said.

Mr Coutts advised residents to secure loose outdoor items, including boats, vehicles and bicycles and tape windows in a criss-crossing fashion using in strong packing tape.

"Bring children and pets indoors. When the weather system approaches remain inside until further advice is given," he said.

Water and Energy Minister Mark McArdle said Ergon Energy crews had been placed on alert for what was potentially the most powerful cyclone to threaten Queensland in three years.

"Standard preparations and checks have been under way this week for Ergon operations in northern parts of the state and the emergency management plan has now been activated," Mr McArdle said.